Following Apple’s (AAPL) fiscal Q4 earnings report, the stock has risen by about 6.6%, prompting many in the tech business media to ask whether the rise is justified. Some have even offered bearish assessments that Apple has ceased to be a growth company. My view is the diametrical opposite. Not only is Apple still a growth company, but it remains significantly undervalued.
MacDailyNews Take: Amen, brother! Hallelujah!
A favorite pastime of Apple bears has been to cite such setbacks as proof of permanent decline. This has been going on almost since the founding of the company. One wonders why the bears still regard such arguments as persuasive.
Another misconception I frequently encounter among the bears is that “Apple is just a consumer goods company.” …I’ll be blunt. Consumer goods are things like toothpaste and dish washing liquid. To call Apple a consumer goods company is to completely ignore the fact that Apple is one of the most successful fabless semiconductor companies on the planet.
Apple is best situated to continue to innovate in products and services compared to peers such as Google and Microsoft. Apple has mastered a level of hardware/software integration that its competitors can only aspire to. I’m confident that Apple will continue to innovate new products and services that will drive continued growth for many years.
MacDailyNews Take: Spot on, accordingly we’ll drink to that!
Interns: TTK, please!
This article was originally posted here